Russian insurer AlfaStrakhovanie PLC is involved in talks to acquire a 100% stake in local insurance company Nadezhda and applied with the Russian Federal Antimonopoly Service to secure approval for the potential deal, Vedomosti reported Aug. 9.
AlfaStrakhovanie's representative told the newspaper the company is interested in purchasing Nadezhda because of the position it holds in Russia's Krasnoyarsk region.
Nadezhda is owned by its General Director Margarita Filippova. Compulsory motor liability insurance constitutes almost 80% of Nadezhda's insurance portfolio, and the company posted a loss of around 97 million Russian rubles for 2018, Vedomosti reported.
As of Aug. 9, US$1 was equivalent to 65.45 Russian rubles.
